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Belgo plans growth with bid for Ivy and Le Caprice

01 January 2000
Belgo plans growth with bid for Ivy and Le Caprice

BELGO, the Belgian-themed group, is pushing ahead with plans to open other restaurants.

Chief executive Andy Bassadone, who confirmed that the group is in talks with Caprice Holdings to buy London restaurants Le Caprice and the Ivy in a deal understood to be worth £15m, is looking at sites to open Moroccan-style restaurants based on Pasha, and Italian ones based on Daphne's.

In May Belgo paid £9.3m for Mogens Tholstrup's London restaurants, Daphne's, the Collection and Pasha. "That was a reasonable price based on future earnings and roll-out potential," said Bassadone.

Belgo has stepped up expansion since it was brought to the stock market in January through a reverse takeover by Lonsdale Holdings, the company headed by PizzaExpress director Luke Johnson.

In November the group will open its third Belgo restaurant and bar in Bristol, and another branch in London's Ladbroke Grove early next year.

It is also planning to open a Belgo restaurant in New York early next year, and possibly other concepts through its US partner Apple South, which has a 20% stake in the group.

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